Court rules on embargo of EPM’s accounts

Company News, Regulation & Policy    Aug 30, 2021 4:31 PM

The First Civil Decision Chamber of the Superior Court of Medellin made a decision on the freezing of EPM’s accounts.

The precautionary measure, which had been adopted on July 22, 2021, to freeze EPM’s bank accounts was left without effect, after the court’s ruling, La Republica reported.

The legal action imposed by the Chamber focused on the fundamental right to due process of Aguas Nacionales EPM; EPM and Área Metropolitana del Valle de Aburrá, which would be violated by the First Civil Court’s actions.

“The Court departed from the provisions of the procedural order by decreeing a precautionary measure without analysis of reasonableness, necessity or proportionality,” said the entity.

The entity explained that the measure did not contain any assessment, did not state reasons, evidence, motivation or weighting, in addition to not having considered “the irremediable prejudice” that would fall on assets intended for the provision of a public service.

Bottom-Line: One less problem for EPM, which has to focus on moving forward in Hidroituango to avoid further inconveniences.

However, the governor’s office and the Institute for the Development of Antioquia (IDEA) continue to put pressure on EPM to avoid lawsuits.

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